After the Federal Reserve cut interest rates by 25 basis points in the US, gold prices have once again risen by Rs 800, while silver has also become costlier by Rs 1500 per kg on the Multi Commodity Exchange. On Thursday, gold closed at $ 2708.80 per ounce on the New York Commodity Exchange (COMEX) while silver closed at $ 31.95.
Prices fell after Trump’s victory
After Trump’s victory in the US, gold prices fell by about 3%, while silver fell by 4%. In India, gold fell by ₹ 1,990 to ₹ 76,492. During the same period, silver touched a low of ₹ 90,108. But after the US Federal Reserve expressed the possibility of cutting interest rates on Thursday, gold and silver prices are again seeing a rise. Its effect will also be seen in India’s bullion market on Friday.
Copper and platinum also rose
Copper prices fell by nearly 5% in the US on Thursday following a sharp decline in India on Comex. Platinum prices also fell by 3%. But copper saw a 4% jump during the trading session on Thursday evening, and platinum prices also rose by more than half a percent.
